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Moody's Downgrades BANK URALSIB OAO's Rating to B2-Interfax


Tuesday, 16 Jul 2013 03:20am EDT 

Interfax reported that Moody's Investors Service (Moody's) has lowered its long-term local and foreign-currency deposit rating assigned to BANK URALSIB OAO from B1 to B2, the agency said in a press release. The rating outlook was changed to negative. At the same time, the rating agency affirmed the E+ standalone bank financial strength rating (BFSR), which now is equivalent to a baseline credit assessment (BCA) of b2 (formerly b1), and carries a stable outlook. Moody's downgrade of BANK URALSIB OAO's long-term deposit ratings reflects the bank's weak capital profile that is suppressed by a high level of non-core assets, high contributions to the shareholder and the loss-making performance by the Bank for two consecutive years. At the same time, the affirmation of the E+ standalone BFRS reflects the Bank's visible market position and strengthening retail franchise, which is likely to support the Bank's interest margins. 

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